A project development company held by a fund managed by BlackRock secured a €51m loan from pbb Deutsche Pfandbriefbank to purchase an office property in Hamburg as well as to to cover refurbishment costs to the asset. The office property is located in Hamburg’s City South district and offers 28,740 sqm of leasable space, 23,440 sqm of which is office. “The Hamburg office market continues to show significant potential. Demand for office properties in top locations is high. Blackrock is one of our international target clients: we appreciate their strong asset management expertise,” said Charles Balch, head of real estate finance for the UK and CEE at pbb.
